Blog #Business Trends

Sumitomo Rubber USA announced the closure of its century-old Buffalo, New York, Dunlop tire factory, resulting in the termination of 1,550 employees.

The United Nations Framework Convention on Climate Change (UNFCCC) convenes annually for the Conference of Parties (COP) to address carbon emissions and support vulnerable nations through a loss and damage fund.

Alphabet, Google's parent company, saw its shares fall over 5% on Thursday, marking the largest drop in 10 months. The decline followed the Justice Department's request for Google to divest its Chrome browser to curb its dominance in the search engine market.

The Biden administration has informed Congress of plans to cancel $4.65 billion of Ukraine's debt, according to a letter obtained by Bloomberg News. This move forgives half of a $9 billion loan provided as part of a $60 billion aid package approved in April.

President-elect Donald Trump has chosen Howard Lutnick, chairman and CEO of Cantor Fitzgerald, as his commerce secretary. Lutnick, a key member of Trump’s transition team, was praised by Trump as “a dynamic force of Wall Street” in his announcement on Truth Social.

Spirit Airlines has filed for Chapter 11 bankruptcy, citing declining sales and the collapse of a planned merger with JetBlue.

Big tech stocks experienced a massive selloff, with nearly $500 billion wiped from market capitalization as a post-election rally lost momentum amid fears of hawkish monetary policies.

Chinese President Xi Jinping expressed readiness to work with Donald Trump to strengthen US-China relations. During a meeting with Joe Biden, Xi highlighted the importance of long-term peaceful coexistence between the two nations.

The Onion's parent company has purchased Alex Jones' Infowars, which was auctioned to help pay the $1.5 billion Jones owes to Sandy Hook families for his false claims about the tragedy.

An E. Coli outbreak linked to McDonald’s Quarter Pounder burgers has sickened at least 104 people across the U.S., according to the CDC's latest report.

A Dutch appeals court has overturned a 2021 ruling that required Shell to reduce its carbon emissions by 45% by 2030. This decision marks a setback for climate activists aiming to hold companies legally accountable for emissions reductions.

Minority- and women-owned businesses face a significant threat as affirmative action in federal contracting comes under legal scrutiny, potentially impacting contracts valued at $70 billion annually.